During the International Colloquium on Refractories (ICR) in Aachen, Germany, Almatis and ROMCO signed a term sheet outlining the key principles for a long-term strategic partnership for Brown Fused Alumina (BFA). The proposed partnership brings together ROMCO’s established fused alumina manufacturing capabilities in India with Almatis ’global sales , technical service and distribution network. Subject to the conclusion of definitive agreements, the parties intend to establish a long-term manufacturing, sales and marketing collaboration for ROMCO’s Brown Fused Alumina portfolio. Almatis CEO Anil Sonmez stated , “This is another significant step forward in line with our vision, ‘Alumina and Beyond for Tomorrow.” Sonmez continued, “Following the expansion of our Calcium Aluminate Cement...
Premium luggage brand Carl Friedrik has expanded its aluminium collection with the launch of the aluminium Check-in, a 76-litre suitcase designed for longer trips and international travel. Priced at USD 1,095, the new suitcase features a hard-wearing anodized aluminium shell, TSA-approved combination locks, and 360-degree ball-bearing wheels designed for smooth movement. The Check-in model follows the launch of the smaller aluminium Carry-On in March. According to the source, the Carry-On sold out within eight weeks, prompting Carl Friedrik to expand the aluminium range with a larger case. The new suitcase retains several features from its smaller counterpart while adding capacity for travelers who need more space. It is currently available in silver with black, cognac, or chocolate trim....
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In collaboration with TankE GmbH and the City of Cologne, Rheinmetall is embarking on a pilot initiative to evaluate curb chargers in public traffic zones. This project aims to integrate and field-test Rheinmetall's curb charger technology within urban environments. The primary goal is to assess public acceptance and explore these chargers' urban planning and design benefits. Following signing a letter of intent in May 2023, the official launch for on-site deployment took place today, April 25, 2024. The curb chargers will undergo extensive real-world testing at two designated locations within the city. Rheinmetall is a globally influential technology group offering a comprehensive range of components, systems, and services tailored to security and civil sectors. Renowned as a trusted...
Fernando Garcia Martinez, vice president of operations at Mexican aluminium institute IMEDAL, said that the entire light metal supply chain is being impacted, with premiums rising, including in the United States. Under a side agreement within the United States-Mexico-Canada Agreement (USMCA), imports from Mexico are exempt from Section 232 tariffs. However, Mexico must enhance its monitoring measures and trade data reporting under this agreement. Aluminium faces new tariff Recently, Mexico announced an increase in import duties on various goods, as outlined in a decree published on April 22. Among these goods, aluminium faces new tariffs ranging from 20 to 35 per cent. As per the reports shared by Fastmarkets, the document addresses situations where international trade practices disrupt...
Alucop's visionary pursuit of environmental stewardship takes tangible form with the inauguration of its cutting-edge recycling facility in Berrechid. Strategically nestled within Morocco's bustling industrial zone, this plant epitomises the synergy between industry and ecology. Alucop's plant is committed to excellence and possesses an impressive array of output. It will create 5,000 tonnes of copper anodes, 4,000 tonnes of copper wire rod, 2,500 tonnes of copper billets, 12,000 tonnes of brass billets, 5,000 tonnes of aluminium billets, 12,000 tonnes of brass bars and 20,000 tonnes of aluminium ingots per year. The facility denotes Alucop's versatility and adaptability to market demands while championing environmental stewardship through sustainable practices. Ministerial endorsement...
The US Geological Survey's latest data showed the United States’ domestic primary aluminium production trended down during the first two months of 2024, while scrap recovery surged suggesting the country's constant shift to recycled aluminium from the primary metal. Image courtesy: USGS Scrap recovery Aluminium recovered from scrap in February 2024 was 293,000 tonnes, 6.54 per cent up from 275,000 tonnes a month ago and 6.93 per cent more than 274,000 tonnes a year earlier. Of the total scrap recovered, 163,000 tonnes was recovered from new scrap and 129,000 tonnes from old scrap. The total recovery of scrap in the first two months of 2024 was 568,000 tonnes, compared to 552,000 tonnes a year ago. Primary aluminium output From January to February 2024, the United States combined...
The ecological transition presents an exceptional opportunity for emerging leaders seeking purpose. Romain Girbal, the co-founder of IB2, is encouraging young managers to embrace green initiatives, which not only foster growth but also cultivate meaningful leadership in our dynamic business environment. With environmental issues mounting, sustainable practices are advantageous and essential for companies aiming to stay competitive and socially conscious. Transforming the ecological impact of the aluminium industry is the core mission at IB2, where co-founder Romain Girbal has seen firsthand how prioritising sustainability can drive both innovation and economic prosperity. IB2's pioneering approach involves converting low-grade bauxite into high-grade ore, a breakthrough dramatically...
On May 7, 2024, Norsk Hydro, a Norwegian aluminium and renewable energy company, announced that its nomination committee elected Jane Toogood and Espen Gundersen as new members of the Board of Directors. This announcement followed the release of Hydro’s Annual General Meeting minutes. Berit Ledel Henriksen chairs Hydro's nomination committee, which is consisted of three other members namely Susanne Munch Thore, Muriel Bjørseth Hansen, and Karl Mathisen. Hydro also announced that some members were re-elected to the Board of Directors as per the committee's recommendation. They are Rune Bjerke, Marianne Wiinholt, Peter Kukielski, Kristin Fejerskov Kragseth, and Philip Graham New. From now on, Rune Bjerke will chair the board of eleven members, and Kristin Fejerskov Kragseth will be the...
LME aluminium opened at US$2,573 per tonne on Tuesday, with its low and high at US$2547 per tonne and US$2,593 per tonne, respectively, before closing at US$2,568.5 per tonne, up 0.69 per cent. On Tuesday, May 7, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$3 per tonne or 0.11 per cent and US$2.5 per tonne or 0.09 per cent to settle at US$2,512 per tonne and US$2,512.50 per tonne. The 3-month bid price and 3-month offer price ascended by US$5 per tonne, or 0.19 per cent, to US$2,557.50 per tonne and US$2,558.50 per tonne. As per the SMM data, the December 25 bid price and December 25 offer price added US$8 per tonne, or 0.29 per cent, to reach US$2,690 per tonne and US$2,695 per tonne. LME aluminium opening stock halted at 486050 tonnes....
The alumina spot price in China has levitated by RMB 62 per tonne mid-week to close at RMB 3,628 per tonne. China’s alumina spot price is following an upward stride with consecutive expansions of RMB 50 per tonne and RMB 65 per tonne, with the market opening after the Labour Day Holiday observed from May 1 to 5. On May 6, the alumina price was at two-year high, crossing the RMB 3,500 per tonne mark. The alumina spot price in Shanxi has soared by RMB 80 per tonne to rest at RMB 3,640 per tonne, while the alumina price in Lianyungang has added RMB 72.50 per tonne to reach RMB 3,692.50 per tonne. In Shandong, Henan, Guizhou and Bayuquan, the alumina prices have ascended by RMB 60 per tonne to officially close at RMB 3,600 per tonne, RMB 3,610 per tonne, RMB 3,630 per tonne and RMB 3,700 per...
Alfiniti Inc. has made a significant stride in solidifying its position as a premier provider in the aluminium tube industry with the recent acquisition of Alabama Tube Corporation. This strategic move underscores Alfiniti's commitment to diversifying its product line and enhancing its capabilities to meet the evolving needs of its clientele. Alfiniti Inc. now stands uniquely positioned in the market as the sole U.S. manufacturer of welded aluminium tubes, bolstering its ability to offer a comprehensive range of aluminium tube products. This acquisition reaffirms the company's dedication to supporting domestic manufacturing and ensuring the availability of locally sourced aluminium tube products. Enhanced product portfolio The Managing Director of Alfiniti Inc., Steve James, stated: "This...
Ford China announced on May 6, 2024, that Ai Xiaoming has officially assumed the position of President of Changan Ford, reporting to the Board of Directors of Changan Ford. He Xiaoqing, the current President of Changan Ford, will retire on June 1, 2024. Ahead of his retirement, he will serve as a senior advisor and aid in the seamless transition to Ai Xiaoming. Changan Ford (full name Changan Ford Automobile Co., Ltd.) is a Chinese automotive manufacturing company headquartered in Chongqing. It is a 50/50 joint venture between local Changan Automobile and US-based Ford Motor Company. The company's principal activity is the manufacture of Ford-brand passenger cars for the Chinese market. Bringing over two decades of experience in China's manufacturing and consumer electronics sectors, Ai...
Aluminium Bahrain B.S.C., the first aluminium smelter in the Middle East, has reportedly achieved a Platinum rating from EcoVadis, the largest independent provider of business sustainability ratings. This prestigious grade places Alba among the 1 per cent of companies assessed globally in the industry. This remarkable accomplishment also marks Alba's commitment towards sustainability. In 2021, Alba received its first EcoVadis Bronze rating, and two years later, it achieved a Silver Rating. Receiving these prestigious gradations back-to-back demonstrates the company's long-term sustainability goals. Alba's Chief Executive Officer, Ali Al Baqali, said: "We are incredibly honoured to receive the EcoVadis Platinum Rating. This recognition serves as a powerful validation of our relentless...
Indonesia, rich in bauxites, seeks to harness its natural resources to emerge as a frontrunner in green aluminium production. Green aluminium, synonymous with sustainability and environmental consciousness, employs renewable energy or recycled materials in its manufacturing process. The nation's aspiration to process its abundant resources indigenously not only promises economic growth but also aligns with global demands for eco-friendly solutions. At a recent Dubai Chambers forum in Jakarta, Pradana Indraputra, a special advisor at the Investment Ministry, focused on Indonesia's keenness to collaborate with the UAE, particularly in the aluminium sector. Advocating for green aluminium production , he highlighted the potential to serve the never-ending needs of global giants like BMW, who...
On Monday, a tragic fire incident occurred at a unit supplying raw materials to fireworks factories in Sengamalapatti near Sivakasi, Virudhunagar district, Tamil Nadu. Owned by R Chinnakaruppu, the unit saw five workers sustain critical injuries while producing aluminium powder from sheets, an essential ingredient in fireworks manufacturing. Sengamalapatti is a village panchayat located in the Virudhunagar district of Tamil Nadu state, India. The injured were swiftly taken to Sivakasi Government Hospital, where they remain in critical condition. According to sources, the fire erupted suddenly while the workers were grinding chemicals, swiftly engulfing the shed with a deafening roar. Firefighters from Sivakasi rushed to the scene but encountered difficulties in extinguishing the flames....
Novelis Inc., the premier manufacturer of flat-rolled aluminum goods and the globe's largest recycling company, disclosed its financial performance for the fourth quarter and fiscal year 2023-24 on May 6, 2024. The company highlighted that its results were predominantly bolstered by the advantages derived from recycling activities. As per the report, the company’s net income attributable to common shareholder and net income from continuing operations stood at $166 million, reflecting an increase of 6 per cent year-on-year. Net income excluding special items was $179 million, up 2 per cent Y-o-Y. However, Novelis’ full year net income attributable to common shareholder and net income from continuing operations edged a year-on-year rise of 9 per cent to $600 million. Net income excluding...
Sortera Technologies, Inc. recently announced the appointment of Curt Sacks as its senior vice president and CFO. With almost thirty years of experience across public and private sectors, Curt brings a wealth of financial and leadership expertise to Sortera. His primary focus will be guiding the finance team as the company continues its expansion and commercialisation initiatives nationwide. Curt Sacks – Senior VP & CFO Before joining Sortera, Curt held the position of CFO at Zero Motorcycles, a prominent manufacturer of two-wheel EV vehicles and electric powertrains. His tenure was marked by significant growth and expansion, a testament to his financial acumen and strategic leadership. Prior to Zero, Curt served as CFO for both GigOptix, Inc. and Endwave Corporation, two publicly listed...
Switzerland-based GF Casting Solutions has unveiled plans to invest over $184 million in a cutting-edge manufacturing facility in Augusta, Georgia. This announcement marks the third major development in Augusta-Richmond County within the past fortnight, following Syensqo and StandardAero. The new facility, situated at the Augusta Corporate Park, will specialise in producing cast aluminium parts, with a specific emphasis on large structural components crucial to the automotive sector. Carlos Vasto, the president of GF Casting Solutions, appreciated the long-term vision behind the project, stating: “Building a High-Pressure Die Casting Facility is a very long-term investment. The new facility will complete our footprint to become truly global in the e-mobility market. We are looking forward...
Allup Silica has uncovered a potentially significant kaolin clay deposit following an exploration campaign targeting silica and rare earths at its Pink Bark project near Esperance in Western Australia. Preliminary analysis of the initial samples indicated aluminium oxide (alumina) content within the range of 17 per cent to 20 per cent. The company estimates the deposit between 700,000 and 1.2 million tonnes of kaolin spread across 69 square kilometres. To investigate further, they conducted an XRF analysis on eight selected samples. During the reconnaissance air-core (AC) drilling, which involved 41 holes averaging 20 meters in depth across two exploration licenses, totalling 823 meters drilled and logged at 1-meter intervals, the kaolin was observed in thicknesses ranging from 5 meters...
Elliott Management Corp.'s move to acquire a significant stake in Sumitomo Corp., a favoured Japanese trading house of Warren Buffett, signals potential shifts in the market. With Elliott's reputation for activist investing, this development could lead to interesting changes within Sumitomo's operations or governance structure. It's a noteworthy development in finance, especially considering the involvement of influential figures like Buffett and Elliott Management. Elliott Investment Management is an American investment management firm. It is also one of the largest activist funds in the world and is one of the oldest investment managers of its kind under continuous management. As of December 31, 2023, Elliott manages approximately $65.5 billion in assets. The anonymous source mentioned...
